The outlook for NZD/USD remains mixed and the pair could trade within the 0.6200 and 0.6380 for the time being, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour view: “NZD recovered most of its previous day steep drop as it soared to 0.6353 before easing to close higher by 0.70% (0.6291). The price actions are likely part of consolidation phase and NZD is likely to trade within a range of 0.6255/0.6355 today.”

Next 1-3 weeks: “The choppy price actions over the past couple of days have resulted in a mixed outlook. We expect NZD to trade within broad range of 0.6200/0.6380 for the time being.”